[LETTERHEAD OF THE BANK OF NEW YORK] PAGE NUMBER: 1
Payment Date: 12/20/96
Accrual Period: 11/21/96
thru 12/19/96
FIRST ALLIANCE MORTGAGE LOAN TRUST
Mortgage Pass-Through Certificates, Series 1996-3
Class Information Current Payment Information Factors per $1,000
- - ----------------- --------------------------------------------------------------------------- -------------------------------------
BEGINNING PASS THRU PRINCIPAL INTEREST TOTAL ENDING PRINCIPAL INTEREST ENDING
CLASS CODE NAME CERT. BAL. RATE DIST. AMT. DIST. AMT. DIST. CERT.BAL. DIST. DIST. CERT. BAL
- - ---------- ---- ------------- --------- ---------- ---------- ---------- ------------- ----------- ---------- ------------
A-1 33,124,496.05 7.625000% 428,806.70 210,478.57 639,285.27 32,695,689.35 12.80020000 6.28294239 975.99072687
A-2 35,954,137.30 5.757500% 188,441.92 166,754.79 355,196.71 35,765,695.38 5.16279233 4.56862438 979.88206521
R n/a 0.000000% n/a 0.00 0.00 n/a n/a n/a n/a
- - ------------------------------------------------------------------------------------------------------------------------------------
Totals - 69,078,633.35 - 617,248.62 377,233.36 994,481.98 68,461,384.73 8.81783743 5.38904800 978.01978186
====================================================================================================================================
Class Information Original Certificate Information
- - ---------------------- ---------------------------------------------------
TYPE NAME CERT. BAL. PASS THRU CUSIPS
- - ------------- ---- ------------- ---------------- -------------
Fixed Rate A-1 33,500,000.00 7.625000% 31846LBE5
Variable Rate A-2 36,500,000.00 5.800000% 31846LBF2
Residual R 0.00 0.000000% n/a
- - -----------------------------------------------------------------------------
Totals - 70,000,000.00 - -
=============================================================================
Unpaid Amounts
---------------------------
CARRY INTEREST
NAME FORWARD SHORTFALLS
- - ---- ------- ----------
A-1 0.00 0.00
A-2 0.00 0.00
R 0.00 0.00
- - --------------------------------------------
Totals - -
============================================
[LETTERHEAD OF THE BANK OF NEW YORK] PAGE NUMBER: 2
Payment Date: 12/20/96
Accrual Period: 11/21/96
thru 12/19/96
FIRST ALLIANCE MORTGAGE LOAN TRUST
Mortgage Pass-Through Certificates, Series 1996-3
P&S Ref.
Sec. 7.8 COLLATERAL INFORMATION Group 1 Group 2 TOTAL
- - -------- ---------------------------------- --------------- ---------------- ---------------
Aggregate stated principal balance 32,896,067.84 35,989,651.30 68,885,719.14
Initial mortgage loan balance 26,220,736.51 26,563,028.69 52,783,765.20
Subsequent mortgage loans 7,273,813.57 9,927,288.05 17,201,101.62
Aggregate scheduled principal amt 21,032.74 29,684.82 50,717.56
Aggregate scheduled interest amt 293,029.02 270,312.97 563,341.99
Aggregate prepayment amount 343,625.06 75,168.45 418,793.51
P&S Ref.
Sec. 7.8 FEES Group 1 Group 2 TOTAL
- - -------- ---------------------------------- --------------- ---------------- ---------------
Monthly servicer fees 13,858.65 15,039.39 28,898.04
Monthly trustee fees 401.90 436.14 838.04
Monthly premium fees 4,141.00 4,494.00 8,635.00
=============== ================ ===============
17,541.68 19,754.68 37,296.36
P&S Ref.
Sec. 7.8 OTHER INFORMATION Group 1 Group 2 TOTAL
- - -------- ---------------------------------- --------------- ---------------- ---------------
Insured payments 0.00 0.00 0.00
Compensating interest amount 859.87 214.85 1,074.72
Pre-funding transfer amount 0.00 0.00 0.00
Subordinated increase amount 64,148.90 83,588.65 147,737.55
Subordinated reduction amount 0.00 0.00 0.00
Remaining pre-funded amount 0.00 0.00 0.00
Avail funds cap carry forward n/a 0.00 0.00
Projected net excess cashflow 68,238.26 82,617.73 150,855.99
Ending subordinated amount 200,378.49 223,955.92 424,334.41
Subordination deficiency 603,621.51 615,544.08 1,219,165.59
OC Target 804,000.00 839,500.00 1,643,500.00
DELINQUENCY INFORMATION
P&S Ref. ---------------------------------------
Sec. 7.8 Period Loan Count Ending Stated Balance
- - -------- -------------- ------------- ---------------------
30-59 days 10 576,701.59
60-89 days 2 156,937.43
90+ days 2 227,525.49
In foreclosure 11 765,472.07
In bankruptcy 0 0.00
TOTALS 25 1,726,636.58
== ============
*Foreclosure, bankruptcy and REO loans are also reported
as delinquent loans.
REO INFORMATION
P&S Ref. ------------------------------
Sec. 7.8 Reo Date Loan Number Ending Stated Balance Book Value
- - -------- -------- ----------- --------------------- ----------
- 0.0 0.0
- 0.0 0.0
- 0.0 0.0
- 0.0 0.0
- 0.0 0.0
- 0.0 0.0
- 0.0 0.0
TOTALS 0 0.0 0.0
= === ===
P&S Ref.
Sec. 7.8 LIQUIDATED LOAN INFORMATION Group 1 Group 2 TOTAL
- - -------- ---------------------------------- --------------- ---------------- ---------------
Net losses (this period) 0.00 0.00 0.00
Cumulative losses (since Cut-Off) 0.00 0.00 0.00
Substitution amount 0.00 0.00 0.00
Purchase price 0.00 0.00 0.00
Repurchase loan count 0.00 0.00 0.00
Repurchase loan balance 0.00 0.00 0.00